From the wire: Sandvik (Sandviken, Sweden) has reached an agreement with Orchid Orthopedic Solutions (Holt, MI, USA) to divest Sandvik Medical Solutions, a unit within the Sandvik Venture business area with contract manufacturing of medical implants and instruments for orthopaedic and dental applications. “The divestment of Sandvik Medical Solutions is in line with our strategy to exit operations outside of the defined core businesses. There is a strong industrial logic in combining Orchid and Sandvik Medical Solutions,” said Anders Thelin, president of Sandvik Venture.
“The combination of Orchid and Sandvik Medical Solutions will have a unique offering to its customers and become the leading orthopaedic implant supplier globally. The acquisition also demonstrates Orchid’s commitment to be a leader in a consolidating industry,” said Claes Ekstrom, Board Member in Orchid and Partner at Altor Equity Partners.
The divestment is expected to be concluded in March 2012.